But many men will become resistant to the treatment at some stage. This does not look like related to the length of time a man is receiving treatment. Dr Phil L’Huillier, Cancer Research Technology’s director of business administration, stated: ‘This partnership demonstrates CRT’s ability to maximise its wide network, having licensed and identified this task from Naples, and then subsequently partnered it for additional preclinical and clinical development with ValiRx. ‘We will follow further trials to check its suitability as a fresh treatment to potentially boost survival out of this disease with great interest.’ Under the conditions of the licence with Cancer tumor Analysis Technology, ValiRx will be responsible for performing the pre-scientific regulatory development of VAL 201 to get ready the compound for early scientific trials in patients.Research and development expenses are expected to improve modestly over the coming quarters as the business moves nearer to initiation of the Phase III trials of the INTERCEPT Blood System for red blood cells. Net reduction for the first quarter of 2011 was $5.0 million, or $0.11 per share, in comparison to a net loss of $5.3 million, or $0.14 per share, for the first quarter of 2010. At March 31, 2011, the Company had cash, money equivalents and short-term investments of $24.4 million, in comparison to $30.0 million at December 31, 2010. Cash used for operations during the first one fourth of 2011 was higher than the quarterly prices observed in 2010.